Core Insights - The average American worker aims for a retirement savings target of $1.6 million to last for 22 years [1] Group 1: Retirement Savings Strategies - Rolling over 529 Funds to a Roth IRA allows individuals to transfer up to $35,000 from a 529 account into a Roth IRA if the account has been open for 15 years or more [3] - Individuals aged 50 and above can make catch-up contributions to their retirement accounts, with the IRA catch-up contribution amount set at $1,100 for 2026, and 401(k) accounts having a base limit of $24,500, with additional contributions allowed for those aged 60 to 63 and 50 and above [4][5] Group 2: Withdrawal Rules - The minimum age for penalty-free withdrawals from tax-advantaged retirement accounts is 59 ½, although regular income taxes may still apply [6] - The IRS provides exemptions to the 10% early withdrawal penalty for specific circumstances, such as qualified college expenses or total and permanent disability [7] Group 3: Social Security Benefits - Social Security can be claimed as early as age 62, but waiting until age 70 maximizes the benefit amount [8]